Money Shouldn't Matter*

*Please note that bursary funding listed below is simply an estimate based on levels of funding and support we expect to receive. Any number listed is only for illustrative purposes and is not an implied or explicit offer of financial aid. Program applicants should be prepared to pay the full listed cost of the trip. All numbers listed below are not likely to reflect actually aid amounts. The full trip cost is $7,495CAD or $8,595 NZD. If you are wondering if you should apply based on this disclaimer please email contact@innovationexchanges.org for more information.

One of core philosophies is that experiences like our shouldn't be exclusive to those with significant means. We want a trip encompassing people of all different backgrounds. We want people that think differently and we want t bring together a whole range of life experiences. That's why we've created a bursary program to try and keep costs accessible. If you are still worried about financing your experience please talk to us and we will find a way to make this trip possible for every qualified applicant. 

 
 

Here is our full Bursary Matrix, it outlines at which income and asset levels which level of support will be given, find your level for an estimate at the amount of aid you will recieve. Click on the image to enlarge it.

Bursaries 

*Please Note the Disclaimer Listed Above

We understand that our trips have a significant cost. It costs a lot to send you on a full month trip, pay for transportation, pay for accommodation, pay for staff, pay for activities, and make the experience truly unique and valuable. Part of our mission is to make the trip accessible to everyone who want to partake on our trips, which is why we are proud to offer a generous financial aid package to most of our participants. Below we will outline the criteria we use to determine eligibility and to determine how much aid is provided.

Financial Aid is available to all students whose combined family incomes (including all parents, and their own) making less than $200,000 CAD or $225,000 NZD (before tax) and/or who have a total familial net worth less than $875,000 CAD or $1,000,000 NZD (including your primary residence), and is free to students with family incomes of less than $50,000 CAD / $57,500 NZD and assets less than $100,000 CAD / $115,000 NZD. 

A student in a family of average income will only have to pay around $1800-$2200 CAD/NZD for their trip.

Proof of Income will be required when applying for financial aid. A copy of the most recently filed tax return will be acceptable proof of income. Please include a copy for all your parents/guardians as well as yourself if applicable. You must also fill out our financial disclosure form, and comply with the good faith reporting requirements. Failure to honestly and to the best of your ability fill out the form will result in the loss of your bursary as well as a penalty fee of 5% of trip costs.

Bursary costs are also deducted from your outstanding balance before you have to pay. Financial information Forms will be given to successful applicants after they have received offer for the program.


Payment options & Plans

Please note all payment options below are based on a bursary of $0. If you receive any form of bursary than the payment options will not change, since they are a percentage of outstanding balance, and bursary is taken off your balance before invoices are due.

We accept payment through a variety of methods for payment. The method we find that offers the best user experience for Canadian Customers is via an interact e-transfer. We charge no processing fees for these types of transactions. We also accept other payment methods like cash or cheque. Please note for cash or cheque a $5 fee per check and $50 fee for bounced cheques and 1% fee for cash will be applied. Payments can also be made over PayPal, or via any major credit card (Mastercard, Visa). Payments via these methods will incur a fee of 3% of the transaction to help cover associated costs. We also accept non-traditional payment options, please see payment option 5 or contact us for more details.

For Canadian students the trip will be charged in Canadian Dollars (CAD), and be a total cost before payment fees of $7,495 CAD, for New Zealand students the trip will be charged in New Zealand Dollars (NZD), $8,595 NZD before payment fees will cost . 

There are also a variety of discounts that will be applied in addition to any payment plan discounts offered below, these discounts are only applied if strict criteria are met, individuals will be informed if they qualify for them :

-IEE Volunteer Discount

-Event Winner Discount

-Special Issue Discounts

We reserve the right to add a currency fluctuation fee, or issue a fluctuation credit in the event of a major currency disruption (greater than 10%). Fees will not be assessed once fully paid. Any currency fluctuation charges will only apply to unpaid invoice portions.

 

An example of payments and their associated fees are included here:

 

A $7,495 via an e-transfer or online bank transfer- Fees $0

A $7,495 cheque which is cashed successfully- Fees $5

A $7,495 invoice paid in cash via 3 instalments- Fees $75

A $7,495 invoice paid in 5 instalments via Mastercard- Fees $225

 

Note. In exceptional circumstances we may grant payment fee waivers.

 

Payment Plans for Students and Dates:

Option 1- Pay in full

Pay your outstanding balance in a single payment. Pay the full amount within 28 days of your offer letter and receive a 5% discount.

Option 2- Pay in 3 Instalments

Pay your outstanding balance in three instalments. The first balance of (⅓ of total) will be charged within 28 days of your offer letter, the Second of (⅓ of total) on 31 days later and the Third of (⅓ of total) on another 31 days later.

Option 3- Pay Monthly

Pay a portion of total per month Starting on 28 days after your offer letter, until the end of April 2019.

Option 4- Pay Weekly (Add 1% fee)

Pay starting 28 days after your offer letter, once weekly an amount equal to the portion of the total plus 1% of the payment amount.
 

Option 5- Custom Plan and Alternative Options

We understand our trip has a substantial financial cost associated with it. While the value you will receive from the trip will well exceed the financial cost of the trip, we also want to offer custom payment options to make the trip as affordable as possible. This means that when it comes to paying for the trip we have a variety of options available.

We can work with you to create a flexible payment schedule, work to synchronize payment with your pay schedule. We can also accept non-cash payment forms such as shares in companies both public and private (please contact us to discuss this option), the contribution of airline loyalty points to help offset travel costs (contact us) or the contribution of other in-kind forms of payment. We want to make the trip as accessible as possible so we will work with you to make this trip work.


Please contact us to discuss a custom payment option or if you have any questions about the standard payment options please email contact@innovationexchanges.org

 

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Other Ways to Finance your Trip

We understand that our trips even after bursary support may still be expensive. That is why we have come up with plans and strategies to help ensure all program participants are able to partake in our experience. The following are some ideas and suggestion for what you can do to help fund your trip, and some of the activities may even better prepare you for the trip itself. 

Fun Fact

Students from a family of average income can pay for their outstanding balance in 11 weeks (without any parental support) if they simply cut out 2 hours a day of "idle time" (games, idle time) and instead used the time to work a minimum wage job. 

Find Sponsors

We work with a variety if sponsors to help fund our bursary programs and the trip itself, and with that comes some experience we can use to help you. Often local businesses may be willing to help you fund your trip, but it's not a donation so be prepared to do something in return. Maybe they want to be involved in a club at you school, or have you show off their merchandise.

Find Extra Part Time Work

While many students already engage in part time work, many do not. Even working 5 hours a week can help pay for the portion of your trip not covered by bursary. We will sometimes share job opportunities with students, and we are more than happy to provide advice on how to find a job as a student.

Friends, Family or Kickstarter

Now sometimes this isn't just asking for money, in fact we'd rather you don't just ask for money. instead offer a service to them in exchange for money. Cut their lawn, rake leaves, or do errands or chores for your friends. Use kickstarter wisely and make sure that you write . really compelling story if you want the general public to help crowdfund your trip.

Start a Business

While this is probably the riskiest way to raise money it is also the most fulfilling and has the potential for tremendous upsides. if you need help starting your business Innovation and Entrepreneurship Exchanges partners with Ben Jones Consulting to offer free and/or discounted services to young entrepreneurs. Your business can be anything from lemonade to drop-shipping or textbook flipping, the freedom is yours.

Ask your School and Community Groups

Schools and local community groups may not have money themselves but often they know people who do. They can also provide you with a reference when you chose to approach businesses looking for money, and every once and a while you may get lucky and get some money form these types of organizations. you never know if you don't try.